Sector Update: Health Care

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Health-care shares were generally higher in pre-market trade Tuesday.

In health-care stocks news, Astrazeneca ( AZN ) gets cleared in a Department of Justice investigation into PLATO, a major clinical trial used to win marketing approval for the company's important new heart drug Brilinta.

AZN said the DOJ closed the probe into the 18,000-patient study and no further action was planned.


Separately, the company reported positive results with an experimental antibiotic called ceftazidime-avibactam as a treatment for hospitalized adult patients with complicated intra-abdominal infections.

And, Actavis ( ACT ) confirmed positive topline results from RECLAIM-1 and -2, pivotal Phase III studies evaluating the potential for the investigational antibiotic, ceftazidime-avibactam as a treatment for adult hospitalized patients with complicated intra-abdominal infections.

ACT trades in a 52-week range of $130.06 to $230.77, with shares having closed up 1.2% in Monday's session.

Finally, Medtronic ( MDT ) reported Q1 adjusted EPS of $0.93, a penny ahead of the analyst consensus on Capital IQ.

Revenue was $4.27 billion, just topping the Street consensus of $4.24 billion.

For the FY, the company reaffirmed it expects adjusted EPS of $4.00 to $4.10 and revenue growth of 3% to 5%. The Street stands at $4.03 per share in earnings on $18.1 billion in revenue.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: AZN , ACT , MDT

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